Nippon India Growth Fund has offered 23.14% returns since inception. The scheme has offered over 20% return in three, five, seven years. In the three- and five-year horizon, the scheme has returned 28.81% and 29.27% returns respectively. In the seven year horizon, the scheme offered 20.94% return. The scheme gave 19.94% return in a 10-year period.
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The benchmarks of the scheme have changed many times. The scheme is currently benchmarked against Nifty Midcap 150-TRI. The benchmark has offered 27.85% and 29.41% returns in three and five year horizons respectively. In a seven year horizon, the benchmark offered 20.62% return. In a 10-year horizon, the benchmark has offered 20.75% return.
In simple words, the scheme has managed to beat the TRI benchmark in a three year period but failed to beat its benchmark in five, seven and 10-year horizons.
Based on yearly returns for the last 10 years (2014 – 2023), the scheme has managed to beat its benchmark in only three years (2018, 2019, 2022, and 2023).
The scheme manages assets of Rs 30,838.93 crore as on June 2024. The scheme is the third largest scheme in the mid cap category based on assets managed.Also Read | NFO Watch: Tata Nifty India Tourism Index Fund is open for subscription. Key things to know
A SIP of Rs 10,000 since inception would have now become Rs 25.58 crore with a XIRR of 23.67%. An investment of Rs 1 lakh at the time of launch would have now grown to Rs 4 crore with a CAGR of 23.13%.
The scheme is managed by Rupesh Patel, Sanjay Doshi, and Kinjal Desai (overseas investments). The portfolio of the fund is diversified among 95 stocks, with top 10 stocks accounting for 23.24%. As on June 2024, the fund has 98.50% allocation to equity, and 1.55% in others which include cash and cash equivalents.
According to the scheme information document, the investment strategy of the fund is that the portfolio shall be structured so as to keep risk at acceptable levels. This shall be done through various measures including:
- Broad diversification of portfolio
- Ongoing review of relevant market, industry, sector and economic parameters
- Investing in companies which have been researched
- Investments in debentures and bonds (where the tenure exceeds 18 months) will usually be in investments which have been assigned investment grade ratings by any approved rating agency.
